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How To Become A More Successful Insurance Agent By Turning Away Annuity Leads

Published on September 5, 2008 in annuity leads, annuity selling by Bob Richards

Selling annuities is tricky business. As a result, you see that while some people selling annuities somehow eke out a middle class existence, others who have mastered the tricks of the trade roam around in high end cars and live in plush villas. You might find many high end annuity salespeople turning away sales and annuity leads for some reason or the other and thought that in their position, they can afford to. Right?

Wrong! Because the main reason why some annuity sales people are successful while others are not is because they have learn the art of turning away prospects. Your success as someone selling annuities largely depends upon your ability to judge prospects and disqualify imperfect annuity leads instantly. Most people who succeed in this business do so because they do not waste their time convincing non- buyers to buy their products but rather spend it productively only on chasing leads that they know will turn into conversions.

As someone with even a little amount of experience in annuity selling, you would also have gained the experience to judge whether a prospect is inclined to buy or not within the first five minutes of interaction. However, most salespeople continue wasting their times with such leads because they are desperate to make a sale. But since no customer is an idiot, most of them can see through your desperation and leave you without a sale and all alone with your desperation once again.

On the other hand, people who have made a success out of selling annuities do not waste time on every annuity sales lead. Instead they will begin by disqualifying leads based on demographics, telephone conversations and initial contact. So if you give both a newbie and a pro 20 leads to begin with, the rookie will waste the whole week selling to every lead and make 2 sales while the expert will disqualify annuity leads based on initial interaction, meet with 8 and make 5 sales in two days. This would leave him with more leads to follow and give him time to work on improving his marketing strategy and promotion.

Another major advantage that you can get by disqualifying annuity leads is that you can establish yourself as a specialist. Everyone wants to deal with a specialist, and if you manage to create a niche for yourself in this market, you will never be short of sales. Just make sure that the niche is not too narrow! For example, you can market yourself as a specialist dealing only with seniors above 50 years of age and sell products targeted only to the senior market. You might have to turn away a few good leads that do not fall under this category, but you will soon find people seeking you out because your clients might recommend you as the specialist to go to for the senior annuity buyer.

Other situations in which you will save a lot of time, effort and energy that can be put to good use prospecting elsewhere are when you get an initial impression that your client cannot afford the products you are selling, that they are not suited for him or her or when your annuity leads do not look interested enough. 99.9% chances say that they will not buy. Don’t waste your time on such leads and you will gain credibility and respect. Once people get the impression that you are not a desperate salesman, they will feel more inclined to buy. This definitely sounds convoluted, but human psychology generally is!

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This post provided by ProspectMatch

5 thoughts on “How To Become A More Successful Insurance Agent By Turning Away Annuity Leads

  1. The more I read about annuity, the more I see that insurance people should rather stay away from them and rather stay to selling the basics, annuities are very hard to sell and unless you know what you are doing its best to rather gain the knowledge to do so.

  2. JGW says:

    This is a good reminder for all sales people, not just those selling annuities. Disqualifying leads and working with only your most qualified prospects is going to save time, energy and make you more money in the long run. Definitely a great post for any rookie insurance agent that is seeing the dollar signs in annuities without considering how much qualifying is needed to weed through prospects.

  3. Yes, disqualify leads that arn't going to convert, and you will much much more money in the long run as you will save a lot of time.

  4. I would suggest this approach applies to all forms of selling. Poor leads are a waste of time and in fact it can be said that often inexperienced sales staff tend to focus on these leads believing they can convert.

  5. Lory says:

    Great post! I couldn't agree more with you in saying, "people who have made a success out of selling annuities do not waste time on every annuity sales lead"

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